CLI to focus on growth sustainability, embarks on 21 new projects in 2022

MINERVA BC NEWMAN

CEBU CITY – Cebu Landmasters, Inc. (CLI), the leading real estate developer in the Visayas and Mindanao is set to embark on a new performance records in 2022 with 21 pipeline projects worth P31.5 billion and focusing more on sustainability framework with the expansion of its total landbank acquisition of some 41 hectares of high value land and 103-hectares more worth P12 billion, the company bared this during its 2022 Annual Stockholders meeting on June 7 this year.

CLI Chairman and CEO Jose R. Soberano III said that notwithstanding mobility restrictions and supply chain interruptions, the CLI team achieved quick project turnarounds with its construction activities stayed in full swing throughout 2021.

“Our track record for delivering projects on time and our responsiveness to customer needs, thanks to digital innovations, allowed us to keep them satisfied and ready to endorse us to others,” he added.

Soberano, in his president’s report bared that in 2021, CLI’s consolidated revenues grew by 35 percent to P11.16 billion with net income to CLI shareholders increasing by 42 percent to P2.61 billion, surpassing pre-pandemic performance (2019) by 30 percent.

He said, CLI’s performance was boosted by record-breaking P16.5 billion sales in housing units or a growth of 16 percent year-on-year even as the pandemic lingered and gave rise to regulatory and legal uncertainties. Unrecognized revenues also increased by 23 percent to P25 billion providing clear and reliable visibility on its financial prospects in the next few years.

“As in 2021, CLI will continue in 2022 to expand to new business segments, deepen our investments in the Visayas and Mindanao regions while strengthening internal systems to achieve its growth guidance of 20 percent,” Soberano. Said.

CLI reports that as of the first quarter of 2022, it has already posted a revenue growth of 53 percent to P3.56 billion from P2.3 billion in the same period in 2021 with all business units registering stellar performance. Sales take-up also surged to P4.5 billion or 36 percent more than in the first quarter of 2021’s P3.3 billion.

According to Soberano, the company sustained its leadership in Visayas and Mindanao with a 33 percent market share in the condominium segment, the largest, and a 26 percent share in the subdivision segment according to a 3^rd quarter 2021 Santos Knight Frank real estate market study.

“We are pleased that despite the extended stay of COVID-19 followed by the devastation of Super Typhoon Odette in 2021, CLI remained resilient and further strengthened its presence in its communities,” Soberano further disclosed:

Among the focal points of CLI’s expansion plans are three townships now under development. On the road to creating a critical mass of residents is the 22-hectare Davao Global Township (DGT) which recently sold out in four days the first three towers of its first residential project The East Village at DGT.

This prompted the launch of the fourth tower soon. DGT will also start selling lots in 2022. Planning and development is likewise underway on the 14.3-hectare property in Cagayan de Oro acquired from Xavier University and envisioned to be a mixed-use university town. Reclamation works have also begun on the 100-hectare Minglanilla Techno Business Park in Cebu which is envisioned to be a regional growth center.

CLI creates values not just for its business but also for the communities. The company is in 15 key cities in the Visayas-Mindanao regions generating more than 12,000 jobs/livelihood, investing in 10 projects worth P18 billion with 5,696 housing units and designated for economic housing is 48 percent or 2,725 units.